Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
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Development

‘The Views’, Coal Harbour Project Launches

The Janda Group has launched registration for their project at 1255 West Pender Street in Coal Harbour. The 14-storey, 27-unit project has been named ‘The Views at Coal Harbour’.

The project is being built to a density of 5.7 FSR and includes approximately 3,500 SF of office space on the lower floors. A development permit has been in place since 2007.

More information can be found on the project’s website.

1255 West Pender 21255 West Pender

January 15, 2013by david.taylor@colliers.com
Development

Onni Agrees to Second Public Hearing on North Vancouver Safeway Site

North Shore Outlook – Developer Onni agrees to second public hearing on North Vancouver Safeway site.

Developer Onni Group will return to North Vancouver city hall for a second go at a public hearing on the company’s divisive Safeway site proposal, after the first hearing was tainted by accusations of bullying and impropriety on all sides.

Onni’s vice-president of development Beau Jarvis made the announcement Monday, citing the “outpouring of support” he said the company received over the holidays for its 13th Street and Lonsdale Avenue condo-tower proposal.

“To be quite blunt, we got a bit of an earful over the holidays from people who had publicly expressed support for the project,” Jarvis said in a press release Monday.

“Their position was simple – ‘we want the project, we went out and supported the project and Onni should not abandon the project until the council has formally said yes or no’. At the end of the day, we could not ignore those voices,” he continued.

Read more: http://www.northshoreoutlook.com/news/186871082.html

January 15, 2013by david.taylor@colliers.com
Market Research, Retail

Healthy Growth for Vancouver Retail Market

Colliers’ Q4 2012 retail report shows that the Metro Vancouver retail leasing market sustained healthy growth heading into 2013. Notable highlights from the Colliers retail report.:

  • q4 2012 retail reportFrom a leasing perspective, there was a spike in activity with many international, national and eclectic retailers looking for space. This is evident through the vacancy rate decreasing to 3.5% this quarter from 3.9% in the second quarter of 2012.
  • The most notable changes in vacancy were in Squamish decreasing from 7.1 to 3.3 percent; Chilliwack decreasing from 10.9 to 9.3 percent; North Delta decreasing from 5.9 to 3.6 percent; and Richmond decreasing from 6.2 to 4.7 percent.
  • Both transactional sales volume and deal velocity maintained a steady pace through the last quarter of 2012. From the fourth quarter of 2011 to the end of the third quarter of 2012, 125 transactions closed in the improved retail property category (for properties valued over $1 million).
  • Harbour Centre unveiled plans for a multi-million dollar redevelopment of the landmark Harbour Centre building in Downtown Vancouver. In the spring of 2013, they will embark on an extensive redevelopment of the food court, a refresh of the lower level common area, and a newly revitalized streetscape of the complex.
January 15, 2013by david.taylor@colliers.com

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David Taylor Personal Real Estate Corporation

Colliers International

DT

David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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